New Businesses Lack Expert Resources


    Nearly one-fifth (19 per cent) of all established business owners say that a lack of expertise to draw on, including financial advice, was an obstacle they had to overcome to be successful in their first few years of business, says a CIBC poll by Leger Marketing. “When they look back, some successful business owners realize that they would have benefited from advice about how to manage their money in the early years of their business,” says Jon Hountalas, executive vice-president, business banking for CIBC. The company offers tips to new business owners to help them establish a strong financial foundation including preparing your business to deal with the ups and downs of cash flow by understanding and anticipating your day to day cash needs.